Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) Sees Significant Growth in Short Interest

Flaherty & Crumrine Preferred Securities Income Fund Inc. (NYSE:FFC) saw a large growth in short interest in July. As of July 31st, there was short interest totaling 187,502 shares, a growth of 83.9% from the July 15th total of 101,971 shares. Based on an average trading volume of 92,658 shares, the days-to-cover ratio is presently 2.0 days.

Flaherty & Crumrine Preferred Securities Income Fund Stock Up 0.1%

NYSE FFC traded up $0.01 on Friday, hitting $16.22. 78,834 shares of the company were exchanged, compared to its average volume of 110,745. The stock has a fifty day moving average of $16.11 and a 200-day moving average of $16.13. Flaherty & Crumrine Preferred Securities Income Fund has a 12 month low of $14.98 and a 12 month high of $17.00.

Flaherty & Crumrine Preferred Securities Income Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Friday, October 30th. Stockholders of record on Friday, October 23rd will be issued a dividend of $0.1046 per share. The ex-dividend date is Friday, October 23rd. This represents a c) annualized dividend and a dividend yield of 7.7%.

Institutional Trading of Flaherty & Crumrine Preferred Securities Income Fund

Large investors have recently made changes to their positions in the company. Bard Associates Inc. raised its stake in Flaherty & Crumrine Preferred Securities Income Fund by 42.7% during the 4th quarter. Bard Associates Inc. now owns 1,219,924 shares of the financial services provider’s stock worth $20,141,000 after buying an additional 365,085 shares during the period. Wells Fargo & Company MN grew its stake in Flaherty & Crumrine Preferred Securities Income Fund by 1.1% in the fourth quarter. Wells Fargo & Company MN now owns 946,149 shares of the financial services provider’s stock valued at $15,621,000 after acquiring an additional 10,561 shares during the period. Invesco Ltd. increased its holdings in shares of Flaherty & Crumrine Preferred Securities Income Fund by 12.1% during the second quarter. Invesco Ltd. now owns 763,056 shares of the financial services provider’s stock valued at $12,430,000 after acquiring an additional 82,477 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its holdings in shares of Flaherty & Crumrine Preferred Securities Income Fund by 11.2% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 472,352 shares of the financial services provider’s stock valued at $7,690,000 after acquiring an additional 47,574 shares in the last quarter. Finally, Csenge Advisory Group raised its position in shares of Flaherty & Crumrine Preferred Securities Income Fund by 0.8% during the fourth quarter. Csenge Advisory Group now owns 320,310 shares of the financial services provider’s stock worth $5,288,000 after purchasing an additional 2,593 shares during the period.

Flaherty & Crumrine Preferred Securities Income Fund Company Profile

Flaherty & Crumrine Preferred Securities Income Fund (NYSE:FFC) is a closed-end management investment company that seeks to provide investors with high current income as its primary investment objective. Launched in 1995, the fund pursues this goal by investing primarily in preferred securities, including U.S. and non-U.S. preferred stocks, trust preferred securities, and certain convertible and hybrid instruments. The fund’s diversified portfolio typically spans corporate, financial and utility sectors, with a focus on instruments that offer attractive dividend yields.

In constructing its portfolio, FFC may employ leverage to enhance income generation and diversify across credit qualities and maturities.